[CFTC Eases Registration Requirements for 'Passive Software,' Expands Access to Crypto and Prediction Market Trading] According to an announcement by the U.S. Commodity Futures Trading Commission (CFTC) and a report by Bloomberg, the CFTC's Division of Market Participants has issued a no-action position for providers of 'passive software.' Under specific conditions, and as long as the software only facilitates users in trading with regulated futures commission merchants, introducing brokers, or designated contract markets, staff will not recommend enforcement action against such providers for failing to register as introducing brokers or associated persons. Eligible platforms must not custody user assets or make trading decisions on behalf of users. This measure extends the case-specific arrangement made in March this year for the crypto wallet Phantom to other qualifying software providers. Phantom has partnered with Kalshi to offer prediction market trading access to its over 20 million wallet users.